🔹 4-Hour Chart (Medium-Term Swing)
Price has been recovering from the August low (~5000) and is now testing 5336–5350 resistance.
The recent structure looks like a base-building range with higher lows since mid-August.
Outlook: A breakout above 5355 would confirm bullish continuation toward 5450–5500. Failure here likely brings consolidation back to 5250–5280.
🔹 1-Hour Chart (Short-Term Trend)
Strong bullish momentum the past two sessions, with a sharp rally from 5240 to 5336.
The move cleared prior resistance at 5300, now acting as support.
Outlook: Momentum remains bullish short term, but expect pullbacks toward 5295–5305 as a retest before another push to 5350–5380.
🔹 30-Minute Chart (Intraday Moves)
Price action is trending higher intraday, with impulsive green candles and shallow pullbacks.
Resistance sits at 5350–5355 (recent swing high).
Outlook: Expect choppy price action near 5335–5355. Intraday bulls can buy dips to 5310–5320 targeting 5360–5375, with stops under 5290.
🔹 Daily Chart (Broader Context)
Daily shows a bottoming structure around 5000–5050, followed by multiple higher lows.
The broader downtrend since June is weakening, suggesting a potential trend reversal if price sustains above 5400.
Outlook: Daily bias is shifting from bearish to neutral-bullish. Holding above 5300 sets up a push toward 5450–5500 in September.
Summary Outlook
Bias: Short-term bullish across 30M, 1H, and 4H.
Key Resistance: 5355 → 5380 → 5450.
Key Support: 5300 → 5250 → 5200.
Strategy:
Intraday: Buy dips above 5300.
Swing: Hold longs while above 5250, targeting 5450–5500.
Risk flips bearish only if 5200 is broken on the daily.
**This is just my trading thought process and does not constitute as financial advice.
**Please trade with proper risk management*
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.